Bridge Financing
Ready Capital provides short-term, non-recourse bridge and mezzanine loans nationwide on transitional, value-add and event-driven commercial and multifamily real estate. We lend up to $75 million (larger for select assets and portfolios) for middle-market and institutional commercial real estate sponsors, and larger on a case-by-case basis.
We provide floating and fixed rate terms to five years for multifamily, office, retail, industrial, mixed-use, self-storage, student housing, hospitality, residential and commercial condo, and specialty use properties. We consider the full range of value add strategies and deliver structured finance solutions backed by experienced bridge lending professionals.
Check out our most recent transactions:
Bridge
Fractured Condominium
Year Term
Melbourne, FL
Bridge
Office
3 Year Term
Greenwood, IN
Bridge
Mixed Use
4 Year Term
Charlotte, NC
Bridge
Retail
3 Year Term
Santa Monica, CA
Bridge
Multifamily
3 Year Term
Los Angeles, CA
Fixed rate
Retail
2 Year Term
Sacramento, CA
Bridge
Retail
5 Year Term
Jacksonville, FL
Bridge
Various Property Types - Portfolio
3 Year Term
Los Angeles, CA
Bridge
Multifamily
3 Year Term
Houston, TX
Fixed rate
Student Housing
3 Year Term
Normal & Champaign, IL
Bridge
Multifamily
5 Year Term
West Valley City , UT
Fixed rate
Mixed Use
7 Year Term
Costa Mesa, CA
Bridge
Retail
3 Year Term
Miami, FL
Bridge
Multifamily
3 Year Term
San Antonio , TX
Bridge
Multifamily
3 Year Term
San Antonio, TX
Bridge
Retail
3 Year Term
Miami (Wynwood), FL
Bridge
Multifamily
3 Year Term
Houston , TX
Bridge
Multifamily
3 Year Term
Portland , OR
Bridge
Multifamily
3 Year Term
Freeport, TX
Bridge
Multifamily
2 Year Term
Houston, TX
Bridge
Retail
3 Year Term
Miami, FL
Bridge
Office
3 Year Term
Charlotte, NC
Bridge
Retail
3 Year Term
Charlotte, NC
Bridge
Multifamily
2 years Year Term
Tampa, FL
Bridge
Industrial
3 Year Term
Charlotte, NC
Bridge
Office
3 Year Term
Chicago, IL
Bridge
Mixed Use
3 Year Term
Los Angeles , CA
Bridge
Multifamily
3 Year Term
San Antonio , TX
Bridge
Multifamily
3 Year Term
San Antonio , TX
Bridge
Mixed Use
3 Year Term
Denver, CO
Bridge
Retail
2 Year Term
Los Angeles, CA
Bridge
Multifamily
3 Year Term
New York, NY
Bridge
Office
3 Year Term
Chicago, IL
Bridge
Multifamily
2 Year Term
Philadelphia, PA
Bridge
Multifamily
Year Term
San Antonio, TX
Bridge
Multifamily
Year Term
Austin, TX
Bridge
Multifamily
Year Term
Balcones Heights, TX
Bridge
Multifamily
Year Term
Glendale, AZ
Bridge
Industrial
Year Term
Garfield, NJ
Bridge
Multifamily
Year Term
Olathe, KS
Bridge
Multifamily
Year Term
Shaker Heights, OH
Bridge
Industrial
Year Term
Avon, MA
Bridge
Industrial
Year Term
Philadelphia, PA
Bridge
Industrial
Year Term
Greenville, SC
Bridge
Multifamily
Year Term
Jeffersontown, KY
Bridge
Multifamily
Year Term
Jeffersontown, KY
Bridge
Multifamily
Year Term
Jeffersontown, KY
Bridge
Industrial
Year Term
Miamisburg, OH
Bridge
Multifamily
Year Term
Jacksonville, FL
Bridge
Industrial
Year Term
Jacksonville, FL
Bridge
Multifamily
Year Term
Los Angeles, CA
Bridge
Multifamily
Year Term
Dallas, TX
Bridge
Multifamily
Year Term
Culver City, CA
Bridge
Multifamily
Year Term
Fairfield, OH
Bridge
Multifamily
Year Term
Hamilton, OH
Bridge
Multifamily
Year Term
Austin, TX
Bridge
Multifamily
Year Term
Brewster, MA
Bridge
Multifamily
Year Term
Dallas, TX
Bridge
Industrial
Year Term
Fort Worth, TX
Bridge
Multifamily
Year Term
Tallahassee, FL
Bridge
Multifamily
Year Term
Des Plaines, IL
Bridge
Multifamily
Year Term
Tucson, AZ
PRODUCT OVERVIEW
- Transitional, value-add and event-driven real estate opportunities
- Highly structured loan solutions
- Financing customized to borrower business plan
- Loan size: up to 80% of project cost, 85% senior stretch deal specific
- Term: floating rate up to five years including extensions
- Prepayment: minimum interest
- Future Funding: Capex, TI/LC, earnouts, interest and operating reserves
- Fixed and fixed/floating hybrid loan solutions
Contact a Production Officer or a member of our production team for more information for your area or market. All of our Production Officers have the ability to lend nationwide. If you need further information, please contact bridgecre@readycapital.com.
Commercial Lender Builds on Outstanding 2020 Results
Ready Capital announced strong results for its Freddie Mac Small Balance Loan (SBL) business during the first quarter, extending into 2021 the increased volume of deals seen by the company in 2020. During the first quarter of 2021, Ready Capital closed 62 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $164 million in funding, with a pipeline of over $225 million. The recent quarter’s result builds on the company’s success during calendar year 2020, during which Ready Capital had closed 192 Freddie Mac SBL and small multifamily Bridge-to-Agency loans totaling $545 million in funding.
“The market demand for the Freddie Mac SBL product continued to be elevated into the first quarter of 2021 with approximately $1.4 billion in permanent and small multifamily bridge financing requests, capping off a strong 2020 despite headwinds from the pandemic,” said Anuj Gupta, President of Commercial Real Estate Lending at Ready Capital. “Furthermore approximately 71% of our production to date meets the criteria for mission-driven, affordability housing, aligning us with the long-term goals of the Agencies.”
In addition to announcing the volume of transactions, Ready Capital also highlighted the geographic diversification of the deals closed by its national lending team. During the first quarter of 2021, the company funded a significant volume of transactions in California, Illinois, Texas, and Colorado and closed additional deals in 10 more states.
Premier Transactions
Ready Capital closed $164 million during the first quarter of 2021 and $545 million during 2020 in Freddie Mac SBL and small multifamily Bridge-to-Agency loans. Individual deals ranged in size from $1 million to $7.5 million with terms ranging from 1 years to 20 years. Average LTV for the Freddie Mac SBL loans was approximately 65.
| Portfolio name | Number of deals in portfolio | Sum of balance (millions) | Notes |
| Portfolio 1 | 12 | $40.0 | Cash Out Refinance
Partial IO, 7 Year term Southern California |
| Portfolio 2 | 3 | $15.5 | Purchase
Amortizing, 10 Year term Chicago and suburbs |
| Portfolio 3 | 2 | $4.4 | Cash Out Refinance
Partial IO, 10 Year term San Diego area |
| Portfolio 4 | 2 | $2.4 | Purchase
Amortizing, 10 Year term San Diego area |
| Portfolio 5 | 2 | $2.5 | Purchase and Cash Out Refinance
Amortizing, 10 Year term Greater Seattle |
| Large Balance Deals | Balance (millions) | Notes |
| Loan 1 | $5.0 | Purchase
Amortizing, 10 Year term Arizona, very small market |
| Loan 2 | $4.2 | Purchase
Partial IO, 10 Year term Dallas area |
| Loan 3 | $3.5 | Cash Out Refinance
Amortizing 7 Year term Portland, Oregon region |
Bridge Lending: Q2 & Q3 2022 Featured Deal Highlights Summary
The summary report will be available soon.
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